Ring Energy (REI) Given a $20.00 Price Target at B. Riley

B. Riley set a $20.00 price target on Ring Energy (NYSEAMERICAN:REI) in a research note released on Friday morning. The firm currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Ring Energy from a hold rating to a strong-buy rating and set a $16.00 price target on the stock in a research report on Thursday, January 11th. KLR Group assumed coverage on shares of Ring Energy in a research report on Thursday, December 21st. They issued a buy rating and a $20.00 price target on the stock. Roth Capital set a $22.00 target price on shares of Ring Energy and gave the company a buy rating in a research report on Tuesday, January 16th. SunTrust Banks reiterated a buy rating and set a $19.00 target price on shares of Ring Energy in a research report on Friday, November 10th. Finally, Northland Securities set a $18.00 target price on shares of Ring Energy and gave the company a buy rating in a research report on Monday, December 11th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $18.75.

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Shares of Ring Energy (NYSEAMERICAN REI) opened at $14.00 on Friday. The stock has a market cap of $765.35, a price-to-earnings ratio of 127.27 and a beta of 0.27. Ring Energy has a 12-month low of $9.22 and a 12-month high of $16.09.

In other news, CFO William Randall Broaddrick sold 75,000 shares of Ring Energy stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $14.02, for a total transaction of $1,051,500.00. Following the sale, the chief financial officer now directly owns 50,000 shares in the company, valued at approximately $701,000. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Several institutional investors have recently modified their holdings of REI. Phocas Financial Corp. boosted its position in Ring Energy by 4.3% in the fourth quarter. Phocas Financial Corp. now owns 1,398,675 shares of the company’s stock valued at $19,442,000 after buying an additional 57,388 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Ring Energy in the fourth quarter valued at about $396,000. Vident Investment Advisory LLC acquired a new position in Ring Energy in the fourth quarter valued at about $502,000. Financial Advocates Investment Management acquired a new position in Ring Energy in the fourth quarter valued at about $8,079,000. Finally, Millennium Management LLC boosted its position in Ring Energy by 75.2% in the fourth quarter. Millennium Management LLC now owns 67,675 shares of the company’s stock valued at $941,000 after buying an additional 29,047 shares in the last quarter.

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Ring Energy Company Profile

Ring Energy, Inc (Ring) is an exploration and production company that is engaged in oil and natural gas acquisition, exploration, development and production activities. The Company’s exploration and production interests are focused on Texas and Kansas. Its operations are all oil and gas exploration and production related activities in the United States.